Deposits

A deposit is the security money you collect from a tenant and, in the UK, protect with a government-approved scheme. Yorlet tracks every deposit from the moment it is paid through to return, including scheme registration, custodial transfers, deductions, and payouts to owners. You can view and manage deposits from the Deposits page. Pending deposits also appear under Leasing in the sidebar so you can see which ones still need registering.

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How a deposit progresses

1. Collect the deposit as part of an application. Yorlet creates a Deposit record once it is paid. See Create a deposit.
2. Register the deposit with your protection scheme. You can do this yourself, or let Yorlet register it automatically with DPS or TDS.
3. For a UK custodial deposit, transfer the funds to the scheme and mark it as transferred.
4. While the deposit is active, add charges for arrears, dilapidations, or other deductions.
5. At the end of the tenancy, return the deposit. Outstanding charges are deducted, and the remainder goes back to the tenant.

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Deposit statuses

A deposit moves through these statuses:

• Pending: The deposit has been created but is not yet registered with a scheme.
• Active: The deposit is protected and can have charges added.
• Disputed: A charge on the deposit has been disputed.
• Pending return: You have started the return. Return the remaining funds to the tenant, then mark the deposit as returned.
• Returned: The deposit has been fully returned. No further charges can be added.

UK deposits must be registered within 30 days of being paid. Pending deposits show a Days to register countdown, which turns orange in the last two weeks and red in the last seven days.

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